Investor Justice & Education Clinic
on the Road to Recoveries
Investor Justice & Education Clinic on the Road to Recoveries
The Howard University School of Law opened the Investor Justice & Education Clinic (IJEC) last year, to provide upper level students with the opportunity to learn about the field of securities arbitration and investor security. In three recent cases, the IJEC recovered substantial sums of money for some very happy investors:
Matter: IJEC negotiates $20,400 settlement for an investor client.
The Investor Justice & Education Clinical Law Program is delighted to report that it negotiated a successful settlement for an investor client. The client received settlement proceeds of over $20,400 representing a substantial amount of her total losses in her Individual Retirement Account. Although the original securities broker who sold the investment to the client over three years ago went out of business, the IJEC pursued and settled the case against the clearing brokerage firm who performed the back office functions for the defunct broker. It is very unusual to recover against clearing brokers. However, the IJEC students who investigated the case uncovered documentation which supported claims against the clearing broker and drafted a very persuasive Statement of Claim which led to the clearing broker’s decision to settle rather than litigate. Congratulations to IJEC students Noel Isama and Sha-Kara Jackson for their outstanding work on this matter.
Here is the testimonial from IJEC clients Michelle and Noel: “Bruce, thank you for your patience and follow up. We received word yesterday afternoon that the second check has finally arrived and is being processed with my broker, which brings this final piece of the case to a close. In summation, I’d like to take a moment to say that Noel and I appreciated the efforts of Noel Isama and Shakara Jackson in navigating our case as student attorneys and to thank you for your willingness to pick up the case personally over the summer after the students graduated. We believe the Investors Justice Center fills an important need in the community and if you ever need a letter of recommendation for the benefits of this program for FINRA to continue to offer these services, please know we would be happy to provide one. Best regards, Michelle and Noel C.”
Matter: The Investor Justice & Education Clinic (IJEC) provided Ms. Terry Joseph and Ms. Pandora Lupino with considerable advice and counsel in preparing for their FINRA arbitration hearing scheduled for May 2011 in Norfolk, Virginia, against the brokers. Consequently, Ms. Lupino obtained a substantial recovery in a pre-hearing settlement with one broker, and was awarded an additional $2500 by the FINRA arbitration panel against a second broker. IJEC Student Attorney Nadia Persaud did an outstanding job on this matter, especially with engendering client trust and confidence. Student Attorney Carlton Campbell brought considerable litigation skill and financial insights to the matter.
Here is the testimonial from Ms. Terry Joseph on behalf of her elderly and disabled aunt Pandora Lupino whom the IJEC assisted during the school year 2010–2011: “Hi, I won!” she wrote to Bruce Sanders, supervising attorney of the clinic. “I negotiated a settlement with [one broker] the day before the FINRA hearing. I was awarded $2,500 [against the other broker], which he paid. Congratulations to Nadia and Carlton [IJEC Student Attorneys Nadia Persaud and Carlton Campbell]. Please forward this to them. I can’t find the online story, but Peter Frost at the Daily Press wrote one. All the best, Terry. ”
Matter: The IJEC provided Ms. Denise Neithammer with considerable advice and assistance in preparing for her FINRA arbitration hearing scheduled for June 2011 in Charlotte, North Carolina, against her broker, which resulted in a successful pre-hearing settlement and substantial monetary recovery for Ms. Neithammer. IJEC Student Attorney Courtney Tucker did an outstanding job on this matter.
Here is the testimonial from Investor Denice Neithammer whom IJEC assisted during Spring 2011: “Hi Bruce, I’m so grateful for all your help and all the help from Courtney [IJEC Student Attorney Courtney Tucker] as well. You were both wonderful. Take care and thank you again, Denise.”
Law School Dean Kurt L. Schmoke said the efforts of the IJEC are an example of “social engineering in action.” Associate Dean Okianer Christian Dark said, “These three excellent recoveries are due to the diligence of Supervising Attorney Bruce Sanders and his team of law students.”
Supervising Attorney Bruce Sanders can be reached at firstname.lastname@example.org.
Compiled by Bruce Sanders and Jacqueline Young.
updated: September 14, 2011